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Monday, 25 April 2016

QuickBooks Accounting Services - Empowering Small Businesses

There is no fixed definition of small business. It
varies between countries and parameters that help define it. The common
perception is that companies that have simple ownership patterns like
partnerships or sole proprietorships or even corporations that do not have
elaborate stake holding structures can be labeled as small businesses.

An
example will clear the air to a certain degree. Under Australian Fair Work Act
2009 the criterion for small business ranges from fifteen employees and ditto
for the European Union. In the United States small businesses are classified as
those having less than 500 workers.

In many countries around the world, small businesses
are given huge incentives by the Government as they are seen as a dynamic
vehicle for economic growth.

Small convenience stores, restaurants, tradesmen,
bakeries and even professionals like accountants, lawyers and photographers are
put in this category.

Small manufacturers with limited capital investments in
plant and machinery are also clubbed here. Quantum of turnover, assets and
profits are also taken into account.

All these point to one definite direction – that
small businesses have limited needs and more or less are those that operate
within fixed preset boundaries.

Start-ups that are on their way to becoming
profit generating entities also fall in this category. It is in this scenario
that their need for accounting services has to be evaluated.

But any business
big or small has one requirement in common and that is the need to have a good
accounting setup so that the process is always clear, precise and accurate. And
this is where QuickBooks Accounting Services
have a big role to play in empowering small business and driving them forward.

How then do small businesses stand to gain from
these services -

·Ease
of operations – This is very important as most small businesses outsource their
accounting process primarily to avoid investments in setting up hardware and
software and hiring trained accountants. As a small business owner, your system
is continuously updated by accounting services almost on a real time basis.

The
advantage of QuickBooks software is that the online dashboard is periodically
updated and gives snapshots of all financial data. Thus it is possible to track
income and expenditure, accounts receivable and payable, cash flow requirements
and other operational data. You are thus in total control of your small
business.

·Streamline
time management – The main strength of QuickBooks is that it automates tasks.
Small business owners are perpetually running short of time. You have to look
into so many aspects that are priority for you. QuickBooks automates key accounting procedures such as recurring
invoices and payments of bills, categorizing expenses into different heads of
profit and loss account and syncing bank and credit card transactions with
general ledger cash.

This saves time on procedures that would normally have taken
up a lot of your attention. It is in addition to the built in report formats
that are updated continuously, enabling you to get financial statements on the
go at any point of time.

·Be
connected on the go – QuickBooks accounting software keep your books in order and you might find it
necessary to monitor your data continuously. In this Internet fuelled age this
is easier than you think. With specialized apps you can access QuickBooks from
your smart phone or tablet anytime to take important business decisions or cash
in on sudden openings and opportunities.

How does QuickBooks service function? You scan your
invoices and documents and upload them to the outsourcing agencies through
secure servers or as attachments to email. They will log into your server over
secured remote access service, update your existing records and log out. When
you next log into your system, the records have been updated leaving you with
time to be devoted exclusively to core business activities.

If you are a small business owner looking to be
empowered with quick growth and development, availing professionalOutsource QuickBooks accountingis your
best option. To this end, get in touch with us at info@cogneesol.com.
Our team of experienced and qualified accountants will ensure that you can
concentrate single mindedly to chalking out plans for business expansion while
we fully take care of your accounting functions.